select
|

RE/MAX comments on repo rate

As expected the interest rate remains on its current path a while longer, says Adrian Goslett, CEO of RE/MAX of Southern Africa.

There is no surprise as Reserve Bank Governor, Gill Marcus, announced at the second Monetary Policy Committee meeting of 2012, that the prime interest rate will remain steady at 9%. So far the rate has remained unchanged since November 2010 in the hopes that the low and steady rate would assist in stimulating the economy. This, coupled with a more relaxed approach to leading criteria by the major banks, has done just that - particularly in the property sector.

Carrying the positive momentum into the first few months of 2012, the property market has continued to see a marked improvement with many more buyers able to show affordability and enter the market, many for the first time.  Bond origination companies have reported as much as 63% growth in the volume of bond transactions processed during February 2012, compared with the same period during 2011. Also for the first time, reports have shown that January was a better month than December, which is good news for the South African property sector and points to the fact that the market is moving in the right direction – upwards.

With RE/MAX Southern Africa’s overall sales figures showing a 30% growth in 2011 from the previous year, the positive start in 2012 is a good indication that the property market is continuing to improve and will grow from strength to strength in the future.



  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 17 Jan 2018
      While the current property market may still favour buyers, it doesn’t mean that they shouldn’t be well prepared before putting in an offer to purchase.
    • 17 Jan 2018
      Lightstone lists Blair Atholl as the most expensive suburb with an average house price of R11.2 million, followed by Westcliff (R10.5 million), Dunkeld (R9.3 million), Sandhurst (R9.1 million) and Inanda (R7.2 million).
    • 17 Jan 2018
      As it currently stands, there are four main ways in which a home can be bought in South Africa, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who adds that deciding in which legal entity to purchase the property is not a decision that should be entered into lightly, as each has its pros and cons.
    • 16 Jan 2018
      The start of the new year is symbolic of new beginnings. A good time to take stock of one’s possessions as well as how necessary they actually are. However, seeing as the process may appear daunting – a plan goes a long way.
    • 16 Jan 2018
      The Western Cape is still in the throes of a severe drought and many households have to adjust the way they use and save water. It is a little more complicated in sectional title schemes, however, as it is not that easy to implement grey water systems for multiple users and it is also difficult to monitor water usage accurately if there are no separate water meters
    • 15 Jan 2018
      In ideal rental situations, when a lease is signed the tenant will stay for the full duration of his lease without any complications and the landlord will uphold his obligations, creating a win-win situation for tenant and landlord.
    • 15 Jan 2018
      The Atlantic Seaboard’s housing market has stoically withstood the brunt of the growing economic and political instability, consistently achieving double digit growth way above the national average, however, in 2017 South Africa’s most resilient market finally began to yield to the pressure.
    • 15 Jan 2018
      Sectional title insurance can be a little confusing and, as a new owner, you may be tempted to just assume your body corporate has you covered. While this may be the case, understanding the extent of your coverage and your personal liability is the only guaranteed way to protect yourself against potentially costly oversights.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK